Wells Fargo & Company Raises Dover (NYSE:DOV) Price Target to $197.00

Dover (NYSE:DOV) had its price objective boosted by equities research analysts at Wells Fargo & Company from $190.00 to $197.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 3.43% from the company’s current price.

DOV has been the subject of several other research reports. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Mizuho upped their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Wolfe Research upgraded shares of Dover to a “hold” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $193.50.

Dover Stock Performance

NYSE DOV opened at $190.46 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company has a market capitalization of $26.17 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Dover has a 52-week low of $127.25 and a 52-week high of $194.75. The company has a 50-day simple moving average of $182.71 and a 200 day simple moving average of $180.45.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. Dover’s revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that Dover will post 9.17 EPS for the current year.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 in the last three months. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Dover

A number of large investors have recently added to or reduced their stakes in the company. Cannon Financial Strategists Inc. bought a new position in Dover during the second quarter valued at approximately $279,000. Sanctuary Advisors LLC bought a new position in shares of Dover during the 2nd quarter valued at $3,175,000. Chase Investment Counsel Corp raised its position in Dover by 23.5% in the 2nd quarter. Chase Investment Counsel Corp now owns 1,575 shares of the industrial products company’s stock worth $284,000 after purchasing an additional 300 shares during the period. Kimelman & Baird LLC bought a new stake in Dover in the second quarter worth $17,323,000. Finally, Ecofi Investissements SA purchased a new stake in Dover during the second quarter valued at about $8,531,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.